Insider Buying: Ryan Specialty (NYSE:RYAN) EVP Acquires $99,890.05 in Stock

Ryan Specialty Holdings Inc. (NYSE:RYAN) EVP Mark Stephen Katz purchased 3,215 shares of Ryan Specialty stock in a transaction dated Wednesday, June 3rd. The shares were purchased at an average price of $31.07 per share, with a total value of $99,890.05. Following the completion of the acquisition, the executive vice president owned 4,332 shares in the company, valued at $134,595.24. The trade was a 287.82% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ryan Specialty Stock Up 2.4%

Shares of Ryan Specialty stock opened at $32.57 on Friday. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 42.30, a P/E/G ratio of 0.78 and a beta of 0.64. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. Ryan Specialty Holdings Inc. has a 52-week low of $29.28 and a 52-week high of $70.08. The stock has a 50-day simple moving average of $33.52 and a 200-day simple moving average of $42.63.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. The business had revenue of $795.23 million during the quarter, compared to analyst estimates of $781.44 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The firm’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS. On average, equities research analysts expect that Ryan Specialty Holdings Inc. will post 2.05 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 12th. Ryan Specialty’s payout ratio is currently 67.53%.

Ryan Specialty announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 26th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RYAN. Los Angeles Capital Management LLC bought a new position in shares of Ryan Specialty in the 4th quarter valued at approximately $25,000. Advisory Services Network LLC bought a new position in shares of Ryan Specialty in the 3rd quarter valued at approximately $28,000. SBI Securities Co. Ltd. raised its stake in shares of Ryan Specialty by 6,322.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock valued at $30,000 after acquiring an additional 569 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Ryan Specialty by 65.4% in the 3rd quarter. Fifth Third Bancorp now owns 612 shares of the company’s stock valued at $34,000 after acquiring an additional 242 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Ryan Specialty by 54.9% in the 1st quarter. Parallel Advisors LLC now owns 1,013 shares of the company’s stock valued at $34,000 after acquiring an additional 359 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RYAN shares. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Ryan Specialty in a report on Tuesday, May 26th. JPMorgan Chase & Co. reduced their price target on Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating for the company in a report on Thursday, April 9th. Mizuho set a $35.00 price target on Ryan Specialty in a report on Friday, May 1st. Citigroup reduced their price target on Ryan Specialty from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, May 4th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Ryan Specialty in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Ryan Specialty currently has an average rating of “Hold” and a consensus target price of $46.76.

Ryan Specialty Company Profile

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.